Greece's pro-austerity party topped six opinion polls in a sign that the
electorate is heeding warnings of a “catastrophe” if Athens crashes out of
the euro.

New Democracy, whose leader Antonio Samaras has pleaded with Greeks not to jeopardise its bail-out agreements, outstripped the anti-austerity Syriza party by 5.7pc, according to one of the polls.

The socialist Pasok party also improved its lead, pointing to the possibility of the two main parties which have led the interim government under Lucas Papademos, to form a new coalition on June 17.

European markets, which have for weeks been rattled by the prospect of a Greek exit from the euro, rose amid optimism that Greeks will choose to stay in the euro in the re-run of elections. The euro recovered from the two-year low it hit on Friday, although trading volumes were low because of bank holiday in America and part of Europe.

To Vima, the Athens-based newspaper, said: “A large part of the electorate seems to be replacing its anger with concern for the dangers of leaving the country ungoverned and of an exit from the euro.”

Mr Samaras used a speech at the weekend to warn Greeks that their savings, deposits and property values could halve and food prices could jump by 25pc if Greece quit the euro. “No society, no economy and no democracy can tolerate such a sudden collapse in so little time,” he said. He added: “Even when Argentina went bankrupt, it was fully sufficient in food and exported meat and grain around the world. What does Greece produce that it can export?”